Tag Archives: expands

Blackstone REIT Expands '' Last-Mile ' Warehouse Holdings with $1.8 Billion Portfolio Purchase

22 Million-SF Canyon Industrial Portfolio Consists Of Amazon, DHL, FedEx and Coca-Cola Amongst 377 Tenants

Blackstone Realty Earnings Trust, Inc. (BREIT) revealed it has successfully closed on a $1.8 million transaction to obtain a 22 million-square-foot portfolio consisting of 146 infill storage facility and circulation properties throughout the country.

Referred to as the Canyon Industrial Portfolio, the properties were offered by a set of funds sponsored by Boston-based Cabot Properties: Cabot Industrial Worth Fund IV, L.P. and Cabot Industrial Worth Fund IV Manager, LP. Blackstone had previously put the portfolio under contract in late December.

The gotten properties includes 146 “last-mile” structures, with the biggest concentration in Chicago at 4 million square feet accounting for 18% of the portfolio’s aggregate base rent; followed by Dallas (3.22 million SF, 12%), Baltimore and Washington D.C. (1.86 million SF, 12%), Los Angeles and Inland Empire, CA (1.12 million SF, 7%), South-Central Florida (1.12 million SF, 7%) and Denver (1.07 million SF, 6%).

The portfolio’s 377 occupants consist of Amazon, Federal Express, DHL, Coca-Cola, Fiat Chrysler and the U.S. federal government, according to a securities filing.

BREIT noted that the industrial job rates throughout the portfolio’s markets has actually continued to decline over the previous seven years and is presently just 4.6%, while rents have actually increased 5.7% year-over-year.

“The ongoing market lease development in the portfolio’s markets resulted in leas on brand-new leases surpassing leas on expiring leases by 9% in the portfolio during the third quarter of 2017,” Blackstone stated, adding that the portfolio has some leasing upside as it’s presently 90% inhabited.

“BREIT’s portfolio, with its emphasis on steady, income-producing warehouse and apartment or condo assets, is well placed to take advantage of continued tailwinds in these sectors,” stated A.J. Agarwal, Blackstone REIT president and head of U.S. core-plus real estate for the private-equity giant.

The Blackstone-sponsored non-traded REIT buys supported U.S. industrial realty homes, including multifamily, industrial, retail and hotel possessions.

BREIT’s portfolio now amounts to $7 billion over 272 properties, consisting of 33 million square feet of commercial area and 17,200 multifamily houses, with some select-service hotels and grocery-anchored shopping centers.

Blackstone has re-entered the U.S. commercial market in a huge way considering that last year, when it acquired a 38-property portfolio totaling 4.4 million square feet in Southern California from Principle Realty Investors for about $500 million.

In January, the private-equity business consented to buy Canada-based Pure Industrial Real Estate Trust, which owns and operates industrial residential or commercial properties throughout The United States and Canada, in an all-cash offer valued at about $2 billion.

UNITED STATE Department of State expands travel caution to anybody going to Mexico

It’s the shot seen round the world; cringe-worthy video that everyone’s talking about. A male states he went downtown with friends, not with any specific group, to protest President Trump’s go to. His clash with police ended up being among the most unforgettable of the night. (August 23, 2017)

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Nevada to open retail for industrial hemp as production expands


Yvonne Gonzalez A cherry wine stress commercial hemp plant grows inside a Pahrump nursery while Nevada Department of Farming Industrial Hemp program supervisor Russell Wilhelm, industrial hemp manufacturer Duff Taylor and alfalfa and hemp farmer John Roundy, who owns the land, chat in the background on Thursday, July 6, 2017. A brand-new law is opening up retail sales for items used these kinds of Nevada-grown plants, which include almost no THC.

Click to enlarge photo

Although much of the state’s commercial hemp crops went unused without a retail market, Taylor stated the commercial hemp plants he and Roundy grow are processed for their medical usages, so they had more options for their yield.

He said the plants are basically the like those that wind up in dispensaries, with the main exception being that industrial hemp plants have hardly any THC.

“You can chew on it, smoke it, do whatever you want and you’re not going to get high,” Taylor says.

Wilhelm states only female plants will be planted to avoid any pollination. Taylor said the plants will develop buds, which have the heaviest medical worth, and those buds will continue to grow bigger if they remain unpollinated.

Taylor stated the plants were being kept shaded to secure them from the extreme heat prior to they’re planted. Wilhelm stated the state’s pilot program is intended to assist test for whether hemp can be grown effectively in the state’s diverse environment.

Landowner and alfalfa farmer John Roundy has actually been contracted by Taylor, the applicant permittee who brought the seeds into the state, to raise hemp plants under the state’s program. Taylor has a partner at a development company in Las Vegas who has the rights to the land and the water there.

Roundy has spent his life farming, relocating to Pahrump in 2011. He says his routine crop is alfalfa, which is a perennial, whereas hemp needs to be replanted every year.

“It’s a various crop,” he stated, but it’s still a plant with all the basic needs that come along with growing.

“You can express the oil from the hemp seeds themselves and it’s extremely dietary,” Roundy stated. “People are using it for dietary supplements.”

Taylor says that now that retail is coming online, Nevada has to intensify its industrial-level processing. The 4- to 5-acre parcel grown on Roundy’s land last year produced about 4,000 pounds of harvest and needed to be sent of state for processing, Taylor stated.

This year, Taylor’s pending application with the state is for 60 acres.

Wilhelm stated Nevada’s commercial hemp industry is still in its embryonic stage, however that he hopes it can grow to the level seen in Colorado, where 9,000 acres were planted last year.

“Industrial hemp is type of a novelty product, so a great deal of individuals are trying to find industrial hemp as a material in, say, cosmetics or consumables,” Wilhelm stated. “I believe that it definitely has a quite big function to play in Nevada’s retail economy.”

Collaboration expands healthcare gain access to for Chamber of Commerce members

Tuesday, July 14, 2015|3:36 p.m.

. A brand-new collaboration between the Las Vegas Metro Chamber of Commerce and H2U Health Centers will certainly broaden access to main healthcare for chamber members and their dependents.

H2U, which operates 41 health clinics across Clark County either on or near companies’ work sites, will certainly offer access to Chamber of Commerce members either as part of the chamber’s insurance coverage and advantages package or as a stand-alone advantage that can also be acquired through the chamber.

In a comparable advancement, H2U recently began offering immediate and severe care services to MGM Resorts International workers.

Health to You– H2U for short– is a nationwide carrier of direct primary care services for employers.

The company’s staff member university hospital provide companies a range of services for their personnels, consisting of same-day and next-day consultations, on-site dispensing of generic prescriptions, on-site lab services and 24/7 access to care through telemedicine, according to a news release.

To call the Chamber of Commerce, call 702-641-5822.

Steve Wynn’s $10 million ‘Showstoppers’ bet settling; show expands, includes tunes


Denise Truscello/ WireImage/ DeniseTruscello.net

Vocalists Kerry O’Malley, Lindsay Roginski, Nicole Kaplan, David Burnham, Randal Keith and Andrew Ragone flank Steve Wynn during the press conference for “Steve Wynn’s Showstoppers” in Repetition Theater on Saturday, Dec. 20, 2014, in Wynn Las Vegas.

Thursday, June 4, 2015|2:01 a.m.

‘Steve Wynn’s Showstoppers’ Press Conference